My Age of Investment

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The next day.

Wu Jianmin arrived in Shanghai and began to hand over work with Chen Hong, officially taking over as CEO of Envision Financial Holdings.

This financial institution, which was established less than a year ago, has pieced together a financial giant with tens of billions of dollars in assets through one-stop shopping. With a little more effort, its revenue volume will rank among the top five in the world. Top 100.

It's still close at the moment, maybe a few billion dollars short.

As the group's pillar business, insurance has annual revenue reaching tens of billions of dollars;

The business volume of commercial banks and investment banks is relatively small, only in the order of several hundred million US dollars;

In addition, it also holds 29.99% shares of Pengcheng Development Bank.

In order to successfully acquire Pengcheng Development Bank and replenish the capital of Chinese Bank, Xia Jingxing asked Daxia Capital, a family office, to inject US$4 billion into Envision Financial Holdings some time ago.

After the capital injection was completed, Xia Jingxing's cumulative investment in Envision Financial Holdings has reached US$15.5445 billion, accounting for a very high shareholding ratio of 99.86%.

In addition, Envision Financial Holdings is also burdened with US$20 billion in merger and acquisition financing debt, and the annual interest payment alone is nearly US$1 billion.

However, there is no need to worry too much about debt. AIA’s annual net profit is enough to cover interest expenses, and the equity appreciation is equal to net profit.

In addition, excluding mainland premiums, AIA has nearly US$5 billion in net premium income every year, which can be used for stock trading.

Regarding the use of insurance float, Xia Jingxing specifically communicated with Wu Jianmin.

"Two solutions!

First, AIA serves as the LP and subscribes to the hedge funds and PE funds issued by Vision Capital. The VC funds will not be involved for the time being.

Second, AIA will strengthen its existing investment team, and Envision Capital’s Hong Kong office will deploy a group of elite personnel to join it. "

Wu Jianmin highly recognized the investment capabilities of Vision Capital. He nodded and said with a smile: "No matter how many people queue up, they can't buy Vision Capital's funds. AIA policyholders are lucky."

Xia Jingxing smiled. Except for specific types of insurance such as financial insurance and dividend insurance, the investment profits generated from the premiums of other types of insurance have nothing to do with the policyholders. The policyholders can only receive the figures stipulated in the insurance agreement honestly. It can be regarded as a guaranteed income from drought or flood. .

"However, Darren, I think AIA should still form its own elite investment team. After all, we and Vision Capital are two companies, and the relationship is separated by a layer."

Xia Jingxing pondered for a moment and felt that in the long run, AIA should embark on the path of self-reliance and cultivate its own investment team, while also achieving the effect of diversifying investment and risk, so he replied happily: "Okay! That's it!" It’s up to you to take care of things, and Envision Capital will fully assist you.”

"Then I want to ask you for some generals!" Wu Jianmin said with a smile.

"No problem, we are all our own people, so just treat it as an internal transfer."

Xia Jingxing explained everything to Wu Jianmin, and then entrusted him with all the day-to-day management of Envision Financial Holdings.

…………

…………

After handling the matter of Vision Financial Holdings, Xia Jingxing took a plane to Pengcheng.

Li Ying and the senior executives of the smart home appliance business group have all gathered in Pengcheng.

After several years of site selection and inspection, the soon-to-be-established sub-group Fuxing Zhijia decided to locate its home in Pengcheng.

Beijing is the headquarters of the parent group Fuxing Industrial. Although it is full of talents and has planned to build a large park that can accommodate 100,000 people working at the same time, all the home appliance brands of Fuxing Smart Home are in the south and are concentrated in the Yangtze River Delta and the Pearl River Delta. So I had to move.

Xia Jingxing and Li Ying thought about it for a long time, and secretly compared the sincerity of local governments, and found that Pengcheng was the most suitable.

First of all, four of its six major home appliance brands are in Guangdong Province, namely Skyworth TV, Kelon air conditioner, Rongsheng refrigerator, and Xiaoxiong small appliances.

Supor kitchen appliances are located in Lin'an, Zhejiang Province, and Little Swan washing machines are located in Xicheng, Suzhou Province. Neither place is suitable as a headquarters.

Secondly, Fuxing Smart Home’s main rivals, Midea and Gree, are both in Guangdong Province, so everyone can play mahjong together... Oh, no, it’s to take advantage of industrial clusters.

Finally, the Pengcheng government was more generous and decided to grant Fuxing Smart Home Appliance Group a piece of land in Longgang as its headquarters research and development base.

At the same time, as a first-tier city and a technology city, Pengcheng is more convenient for attracting talents to join the company.

After completing this round of industrial distribution, Fuxing Industrial Group's industries have been basically divided into three major geographical sectors. The Beijing-Tianjin-Hebei region, the Yangtze River Delta and the Pearl River Delta are exactly the same as the domestic economic activity. This is also the general trend.

Xia Jingxing followed a group of senior executives to inspect the headquarters under construction in Longgang. The site was a busy construction site with hundreds of thousands of people working on it in full swing.

This headquarters base was developed by Sunchi Real Estate. Now the entire group's office buildings, factories, employee residences, children's schools and other real estate projects have been handed over to Sunchi Real Estate for unified development, management and operation, saving a lot of costs.

In particular, its property management company is highly praised by the company's employees. Xia Jingxing is thinking about exporting advanced property management experience to the outside world. Sunchi's property management staff will not hit the owners or delivery people.

After inspecting the completion site, Xia Jingxing followed the executives back to the Skyworth Building in Nanshan Science and Technology Park. This building, which was built just a few years ago, was donated by the Sun Company Skyworth and temporarily serves as the headquarters of the sub-group.

Sitting in the spacious and bright conference room, Xia Jingxing glanced at the Fiyta Building not far away. He really wanted to visit Xiao Ma, but was worried that he would hit someone with an ashtray, so he finally gave up the idea of ​​visiting him. .

Xia Jingxing's eyes returned to the executives sitting on both sides of the long conference table, and he glanced at the faces of the seven CEOs including sub-group CEO Li Ying, Skyworth CEO Zhang Xuebing, and Xiaoxiong CEO Li Yifeng.

Fuxing Zhijia started from scratch, and it has been almost four years since it acquired its first electrical appliance company, Supor.

Li Ying was originally hired by him to build a PE fund, but ended up becoming the head of an industrial group. Now she has developed into a female entrepreneur as famous as Miss Dong.

From the perspective of developing industrial capital, it does not deviate from the use of Li Ying.

In the few years since she took over Fuxing Zhijia, she has acquired six home appliance brands. Except for Bear Electric, which is an early start-up company, the other five brands are affiliated to four listed companies.

After Li Ying's integration, these second-tier home appliance brands that were in trouble and almost went bankrupt have regained their vitality. They have also taken advantage of the home appliances going to the countryside that started the year before last and entered thousands of households. In terms of shipments, they have greatly narrowed the gap with Haier and Gree. The gap between these first-line brands.

At the same time, after a series of transformations such as rebranding, streamlining management ranks, and integrating sales agent channels, the five companies and six brands are no longer cobbled together like they were in the previous two years, but have truly become one. company.

Most of the original founders and executives of the six brands have resigned. Except for Li Yifeng, the founder of Xiaoxiong Electrical Appliances, and Zhang Xuebing, CEO of Skyworth, the rest have been gradually replaced by Li Ying.

This is also inevitable. A company will not tolerate so many mountains.

Li Yifeng was retained because when he was acquired, the company was relatively small and did not have much influence. At the same time, the other party was really good at operating creative small home appliances. The company that acquired him at that time also mainly It was because of his personal talent.

Zhang Xuebing's backstage is Huang Hongsheng and his wife, who are small shareholders of the parent group. In addition, Zhang Xuebing has done a good job in the past two years and has no seniority in front of Li Ying, so he is still in charge of Skyworth.

In the past two years, Fuxing Smart Home only had a relatively controlling stake in most of its home appliance brands, and a large number of issued shares were still traded on the securities market.

This has caused certain obstacles to the capital integration of Fuxing Zhijia. Cooperation between brands cannot be absolutely free, and many problems such as inadvertent transfer of interests and infringement of the rights of small shareholders must be avoided.

Li Ying once proposed a plan to privatize all four listed companies, Skyworth, Supor, Little Swan and Kelon, to achieve 100% control and get through the final hurdle of brand integration.

However, in the past two years, Fuxing Industrial Group had no extra funds to support this grand plan. The remaining funds were all focused on mobile phone research and development. Xia Jingxing’s overseas financial investments were also confiscated, so this plan has been delayed. Li Ying It can only increase its equity holdings in listed companies on a small scale.

But with Xia Jingxing's tens of billions of dollars in capital injection into Fuxing Industrial this year, the entire group suddenly became rich, and Fuxing Zhijia also received a large amount of cash.

As a result, Li Ying completed four privatization cases of listed companies in the past few months, abolished one Hong Kong stock shell and three A-share shells, and was recognized by shareholders as "the number one loser in the A-share market."

Today, Fuxing Smart Home has 100% control of its six major home appliance brands, so Xia Jingxing has also fulfilled his promise and upgraded the home appliance business group into a sub-group.

After thinking for a moment, Xia Jingxing finally said: "Now that the business group has completed the upgrade, what are your plans or goals next?"

Li Ying smiled slightly and said: "Currently, the dispatch of home appliances to the countryside is in full swing, and all manufacturers are showing off their magical powers in the Eight Immortals Crossing the Sea.

After this promotional event, initiated and subsidized by the state and sweeping through countless small towns and villages in China, the market structure will be basically divided.

Although Fuxing Zhijia has tried its best, it can only keep up with Gree in the air-conditioning market share and Haier in the refrigerator market share. It wants to be the first in each market segment, but it is always one step behind. tone. "

Xia Jingxing nodded lightly, "It's already pretty good. The brands we have are far behind them.

We are developing, but others are not idle either. As long as the gap continues to narrow, it is progress. "

Li Ying continued: "One more thing is that the profit margin of our products is too low. We need to find a way to improve it."

Xia Jingxing asked, "Do you have any idea?"

Li Ying did not answer immediately, but pointed to the new logo of the mineral water on the table and said, "The solution lies here."

"Upgrade the brand?"

Li Ying nodded slightly, "Yes, according to data from the National Information Center, the market share of domestic brands in the three major products of air conditioners, washing machines, and refrigerators has reached close to 50%, and they will soon overtake foreign-owned home appliances.

Due to the strength of Gree, air conditioners have already achieved overtake, and domestic brands account for nearly three-quarters.

But a new question arises. Have we really overtaken foreign-owned home appliances? "

Xia Jingxing keenly heard the problem pointed out by Li Ying and said, "You are saying that the market share has surpassed that of foreign investment, but the profit margin has not."

“Yes, domestic brands currently occupy the mid-to-low-end market and the high-end market with high profit margins. Foreign brands such as Siemens, Samsung and Panasonic still occupy a considerable market share.

This is especially true in overseas markets!

China accounts for 80% of the total production volume of the world's home appliance market. The products it produces are exported to most countries in the world, but they can be labeled with other people's brands.

Once a Chinese brand is put on the market, it is difficult to sell it. No one recognizes it and does not recognize the quality of products made in China. "

Xia Jingxing smiled and said: "Those OEM home appliances are also made by us, but they are different and say madeinchina."

Li Ying smiled slightly, "I think it would be more appropriate to translate it as origin in China, or assembly in China."

Xia Jingxing was noncommittal. The Wisdom Fruit does not carry the Madeinchina logo, but assemblyinchina.

Gree understands clearly that it is necessary to master the core technology.

"Well, as you said, most foreign consumers' impressions of Chinese products are still low-end."

Li Ying sighed slightly: "Generally speaking, this requires a relatively long process of cognitive transformation.

If you want to be fast, you need to use technological features beyond those of current products to shatter the inherent cognition in their minds. "

Xia Jingxing laughed loudly: "You want to redefine home appliances?"

"Why not? We have already begun to transform towards intelligence and the Internet of Things. Otherwise, why is it called Fuxing Smart Home?"

Li Ying looked at Xia Jingxing and said with a serious face: "This is an opportunity for Fuxing Zhijia to overtake in a corner, just like Fuxing Mobile, which has the power to conquer overseas and defeat the domestic heroes!

Internationalization, high-end, and intelligence are the next goals and development direction of Fuxing Zhijia.

I decided to unify the brand overseas and use the "Fuxing" brand for all home appliances. "

Xia Jingxing's face gradually became serious and he said, "Do you want to take advantage of the revival of mobile phones?"

Li Ying smiled slyly, "How can you say rubbish? We are originally a family."

Why did Xia Jingxing hear these words so familiar? It seemed that he had said this when he deceived others.

"There are certain risks in this matter. If the home appliance brand is ruined, the mobile phone business may be implicated."

Li Ying nodded slightly, agreeing with this statement, but she quickly said firmly: "But if we do it well, we will achieve mutual success!

Fuxing Home Appliances will go to overseas markets, but it will be equipped with Hongmeng operating system. This is a good opportunity to build a system ecosystem overseas.

If a firm foothold is established, various devices such as cars, mobile phones, drones, tablets, watches, glasses, etc. can all follow this path and then establish unified standards.

From the operating system to the chip, from the ecology to the global user network, they are all wrapped up in the system of the Renaissance brand.

This is the true Internet of Everything, and only then can all the business sectors of Fuxing Industrial be truly connected in series to become a technological giant. "

Xia Jingxing corrected him: "What kind of technology giant? We are an industrial company and can only make pots and pans and other backward products with little technical content."

Li Ying smiled and said, "I believe you, just keep this to the Americans."

Xia Jingxing was also thinking about how to make the next move well.

This step is very critical and is the beginning of building the Internet of Everything.

Home appliances, as products used by thousands of households, are very good promotion vehicles.

IBM has been trying to develop "smart cities" and "smart earth" since its inception. In fact, it is actively making things more difficult for itself.

The food must be eaten one bite at a time, and the road must be walked step by step.

A world where everything is connected should start with the Internet of Things and smart home appliances.

"How is the research and development of smart home appliances going now?"

As soon as Xia Jingxing finished speaking, Li Ying raised her chin towards Zhang Xuebing, who understood and replied: "Mr. will be put on the market for sale.

It can be controlled with Fuxing mobile phones, and it will also create a TV client like a mobile application. In the early stage, it will mainly be used for audio-visual entertainment, games and other applications.

After the launch of this TV, it will definitely be a dimensionality reduction blow to traditional TV sets! "

A smile appeared on the corner of Xia Jingxing's mouth, finally feeling a bit technological.

Home appliances have developed over the past few decades, changing from high-tech products to products with increasingly low-tech content.

But its usage scenarios are still the same, and its sales volume is even getting larger and larger, so it is not an obsolete product.

However, as the technical threshold has been lowered, the profit margin has also become lower, so it needs to be technologically empowered and turned into high technology again.

The word high-tech can be used for many products, and it is also undergoing changes.

However, an Internet TV alone cannot be called high-tech, and the moat must continue to be dug.

Xia Jingxing looked at the other executives present.

"Rongsheng plans to add a smart panel to the refrigerator to integrate various adjustment functions of the refrigerator on a touch screen. At the same time, the refrigerator will also be connected to the Hongmeng operating system to enable mobile phone control of the refrigerator."

"Kelong is also developing a new air conditioner equipped with IoT technology, which uses a mobile phone to replace the traditional remote control and simultaneously achieves intelligent adjustment of temperature and humidity and air purification."

"Little Swan is currently developing a washing machine that can be remotely controlled by a mobile phone and display the washing progress. In addition, through the precise measurement of multiple sensors and the precise control of intelligent sensors, washing parameters for specific stains can be achieved."

…

Xia Jingxing listened to the reports of the six executives and had a clear idea.

At present, we are still trying to conquer IoT technology, and the progress of AI research and development is even slower. The voice interaction controller, that is, the smart speaker, has to wait a little longer.

Only when breakthroughs are made in both AI and IoT technologies, can convergence technologies and artificial intelligence Internet of Things be developed.

However, smart home is on the right track. It only needs to be upgraded based on successive generations of products to make it smarter.

The door to the new world finally opened a crack, revealing a glimmer of light.

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